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Spirent downgraded by Numis

08 November 2016 14:17

Numis has downgraded its recommendation on Spirent Communications (LON:SPT) to 'hold' from 'buy' following last week's trading statement, stating that the company is still struggling to demonstrate broad growth.

The broker said: "The sustained lack of overall top line growth in the business is beginning to weigh (growth in one division seems to be consistently offset by weakness in others) and it is becoming difficult to see a more meaningful recovery in operating margins without more aggressive cost actions."

Analysts have cut their target price to 90 pence a share from 105 pence.

At 2:17pm: (LON:SPT) Spirent Communications PLC share price was -0.12p at 84.13p

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